The global covid-19 epidemic is rapidly escalating. The latest data shows that the global total number of confirmed covid-19 cases has exceeded 320,000. It is noteworthy that the global total number of confirmed covid-19 cases has increased by 100,000 in just two days. The United States has surpassed Italy and China to become the world’s top country in confirmed COVID 19 cases, and research analysis says novel coronavirus pneumonia could kill more than 81,000 americans in the next four months. In financial markets, the dollar index remained under pressure on Friday, with spot gold edging lower after a nearly $15 rally on Thursday, although analysts said it would continue to rise as long as gold stayed above the $1,600 level.
The United States has the most confirmed cases in the world with more than 530,000 cases
More than 530,000 cases have been confirmed as of 8 a.m. Beijing time, according to real-time statistics from Johns Hopkins university. Both the United States and Italy have more than 80,000 confirmed cases.
On March 26, the global total number of confirmed covid-19 cases exceeded 500,000, and on March 24, the global total number of confirmed covid-19 cases exceeded 400,000. That means it took just two days for the number of confirmed cases to go from 400,000 to 500,000. To date, 196 countries and regions have reported confirmed cases of COVID 19.
The number of new diagnoses and deaths is still rising in many countries in a single day. In addition to China, more than 10,000 cases have been confirmed in Italy, the United States, Spain, Germany, France, Iran, the United Kingdom and Switzerland.
The number of confirmed COVID 19 cases in the United States has surpassed that of Italy and China, bringing the total number of confirmed cases in the United States to 82,404, making it the world’s most populous country. More than 5,000 cases were confirmed in the United States last week. There were about 100 confirmed cases in the United States earlier this month.
Government officials acknowledge that the number of confirmed cases may understate the true number of infections nationwide. Testing in the United States has been hampered by delays and restrictive diagnostic criteria that limit who can be tested.
In other major overseas outbreaks, the total number of confirmed COVID 19 cases reached 80589 in Italy, 57,786 in Spain, 43,938 in Germany, 29,406 in Iran, 29,155 in France, 11,811 in Switzerland, 11,658 in the United Kingdom and 9,241 in South Korea. A state of emergency has been declared in 60 countries around the world.
According to the latest announcement of the national health and physical hygiene commission, 55 newly confirmed cases were reported in 31 provinces (autonomous regions, municipalities directly under the central government) and xinjiang production and construction corps from 0:00 to 24:00 on March 26, among which 54 cases were imported from abroad and 1 case was from China (zhejiang province). 5 new deaths (5 in hubei province); There were 49 new suspected cases. By 24:00 on March 26, 31 provinces (autonomous regions, municipalities directly under the central government) and xinjiang production and construction corps reported 3,460 confirmed cases (including 1,034 severe cases), 74,588 cured and discharged cases, 3,292 deaths, 81,340 confirmed cases and 189 suspected cases.
A major increase in the number of confirmed COVID 19 cases in the us is likely to be the new “epicenter” of a new global pandemic, a world health organization (WHO) spokesman said on Thursday.
Thomas Bossert, a former assistant to the President for homeland security and counterterrorism, warned on March 23 that the United States could soon have the world’s highest number of confirmed COVID 19 cases.
The number of Americans claiming unemployment benefits hit a record high last week as a result of the coronavirus crisis. The labor department reported on Thursday that initial claims for state unemployment benefits surged to 3.28 million from 282,000 the previous week. That beat the peak of 665,000 in March 2009 during the great recession and the previous high of 695,000 set in October 1982. Last week’s data was the most since the labor department began tracking claims in 1967, CNN reported.
The spread of a novel coronavirus in the United States is accelerating, said James Fauci, director of the national institute of allergy and infectious diseases. The New York metropolitan area now accounts for 60 percent of new infections and 56 percent of new cases. Other regions should also be more aware of the situation.
US President Donald Trump stressed at a White House press conference on Monday that Americans “must get back to work”, while still taking effective measures such as quarantine. Mr. Trump said some areas less affected by the outbreak could be the first to start work. Mr. Trump said he would reveal his plans next week.
“The pandemic is accelerating,” world health organization (WHO) director-general alfredo tender told a news conference at the agency’s Geneva headquarters on Monday. From the first reported case, it took 67 days to reach 100,000 cases, 11 days to reach the second 100,000 and four days to reach the third 100,000.”
Dr. Ashish Jha, director of the Harvard Institute for global health, said on March 26 that the covid-19 outbreak could last more than a year.
“It’s not going to go away in two weeks, four weeks or six weeks,” Dr. Jha said. If we are lucky, we may live with this virus in another form for 12 to 18 months.”
Novel coronavirus pneumonia could kill more than 81,000 people in the United States in the next four months and could continue until June, according to an analysis of data from the University of Washington school of medicine.
The Washington university school of medicine study, which gathered data from the government, hospitals, and others, estimated that the number of deaths from the new outbreak could range from 38,000 to 162,000.
Further gains are expected
Spot gold fell slightly in Asian trading on Friday, now trading around $1,623 an ounce, after closing up nearly $15 on Thursday. Analysts said the rally would continue as long as gold stayed above the $1,600 mark.
Gold jumped to a two-week high on Thursday after a record number of U.S. jobless claims weighed on the dollar and boosted expectations of further stimulus measures to cushion the impact of the coronavirus outbreak on the global economy.
Spot gold fell as low as $1, 595.94 an ounce in Thursday trading and rose as high as $1, 644.00 to $1, 628.99 an ounce, up to $13.83, or 0.86%.
A leading financial website, Economies.com, wrote on Friday that gold was trying to break through $1,633.60 an ounce on Thursday. It is now waiting for gold to gain enough positive momentum to help it confirm a break above that level and rebound further. Once gold is confirmed at $1,683.60 an ounce, it is expected to move further up towards its next target of $1,689.30.
Overall, as long as gold stays above $1,599.10 an ounce, it is still expected to be in a bullish trend for some time to come, according to Economies.com.
This week, gold rallied alongside risky assets. The federal reserve’s announcement on Monday that it would provide unlimited liquidity and the senate’s unanimous approval of an unprecedented $2 trillion economic stimulus package late Wednesday did turn the stock and gold markets around.
Kevin Rich, the global gold market adviser at The Perth Mint, said gold could face another historic rally in The future, especially given what The fed has done and The overall low-interest rate environment.
Rich explained that the pattern in 2008 was similar to today’s crisis, with stocks falling in 2008, gold prices falling, then the fed stepping in and gold prices rising, starting the historic gold rally from 2008 to 2011. He added: “there are parallels with the past.”
TD Securities, another gold bull, now expects gold to rise to $1,800 an ounce and jump to $2,000 by the end of the year.
Bart Melek, head of global strategy at TD Securities in Toronto, said on Thursday that there are many factors supporting gold right now and that once the novel coronavirus outbreak peaks, constructive price conditions will remain unchanged.
“Normalisation of liquidity conditions, negative real interest rates, low spread costs and concerns over the depreciation of fiat currencies could mean that gold prices could approach $1,800 in the near future, not unlike in the post-global financial crisis period,” he wrote. That could mean a move towards $1,800 in the near future. As the global economy normalizes, the monetary competition will remain loose and the fiscal deficit will increase substantially, probably to $2,000 by 2021.”